Chile's trade surplus widened to USD 1,460 million in December 2019 from USD 259 million in the corresponding month of the previous year. It was the widest trade surplus since May 2014. Exports rose 1.3 percent to USD 6,644 million, as higher sales of agricultural, forestry & fishing goods (53.2 percent), mostly fruits (55.1 percent) more than offset decreases in those of mining products (-2.3 percent), of which copper (-2.7 percent) and gold (-13.4 percent) and manufactured products (-3.9 percent), namely processed salmon (-14.2 percent) and cellulose, paper and others (-28 percent). In contrast, imports slipped 17.7 percent to USD 5,184 million, as purchases fell for intermediate goods (-16.7 percent); consumption goods (-16.9 percent) and capital goods (-20 percent). Balance of Trade in Chile averaged 469.95 USD Million from 1991 until 2019, reaching an all time high of 2968.68 USD Million in April of 2007 and a record low of -1384.72 USD Million in October of 2008. source: Banco Central de Chile
Balance of Trade in Chile is expected to be 300.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Chile to stand at 100.00 in 12 months time. In the long-term, the Chile Balance of Trade is projected to trend around 500.00 USD Million in 2020, according to our econometric models.
Chile Balance of Trade
Chile has been recording trade surpluses since 1999, mostly due to a rise in shipments of copper. The most important non mineral exports are chemicals and metals, machinery and equipment , processed food, forestry and wood products, fresh fruit, salmon and wine. On the other hand, the country imports mostly energy products, chemicals, cars, apparel and machinery and equipment. Recently, the biggest trade surpluses were recorded with Japan and China while the largest trade gaps with Brazil, Argentina and the US.